NMDC production rises to 3.95 MT in December; Stock gains ~1%

3 Jan 2022 , 10:06 AM

State-owned NMDC stocks rally in the market on Monday after iron order production surged 2.33% to 3.95 MT in December 2021 as against 3.86 MT in the same month 2020.

As per regulatory filing, the provisional iron ore sales aggregated to 3.4 MT in December 2021 which was 3.54 MT in December 2020, recorded drop of 4% yoy.

On a cumulative basis, the total sales of iron ore during April-December 2021 also increased to 28.36 MT as against 22.27 MT in the corresponding period a year ago.

NMDC is India’s single largest iron ore producer, presently producing about 35 MT of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka.

At around 10:05 AM, NMDC was trading at Rs134.35 apiece up by Rs0.95 or 0.71% on the BSE.